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CredAble Unveils Report On Innovative Financing Solutions For SMEs

Updated: Feb 27, 2024 05:47:46pm

CredAble Unveils Report On Innovative Financing Solutions For SMEs

New Delhi, Feb 27 (KNN) CredAble, a prominent fintech player, has introduced a report titled "Building Sustenance for SMEs: Navigating Working Capital," aimed at providing sustainable financing solutions to Small and Medium Enterprises (SMEs).

This comprehensive report addresses the fundamental challenges encountered by SMEs in acquiring working capital and provides inventive solutions to effectively overcome these hurdles.

Highlighting two key financing strategies tailored specifically for SMEs, the report focuses on SME-to-Corporate and SME-to-SME transactions.

In SME-to-Corporate transactions, CredAble utilises its established relationships with large corporations to provide financing to SME vendors and distributors through Supply Chain Financing mechanisms.

Conversely, SME-to-SME transactions leverage data-driven insights to evaluate previously unbanked or underleveraged SMEs, thereby unlocking access to innovative financing structures.

Recognising the urgent need to address the substantial credit gap in the MSME sector, estimated to be nearly Rs 25 lakh crore, CredAble unveils a comprehensive approach designed to bridge this divide.

Nirav Choksi, CEO & Co-founder of CredAble, expressed the company's mission to empower SMEs by granting them access to efficient financing solutions.

He emphasised that the report sheds light on the challenges faced by SMEs in managing their working capital, presenting actionable solutions to promote growth and sustainability.

"Our mission at CredAble is to empower SMEs by providing them with access to efficient financing solutions," he said.

CredAble's approach emphasises cash-flow-backed lending, shifting away from traditional asset-based collateral towards transaction-based credit services.

Leveraging digital infrastructure such as the India Stack and forming partnerships with key stakeholders, including the government and regulatory bodies, CredAble aims to digitise SMEs and expand their access to financial services.

Choksi further highlighted that their cash-flow centric approach and technology-backed underwriting process enable them to address the diverse needs of SMEs.

Through strategic partnerships, digital innovation, and a commitment to empowering SMEs, CredAble is paving the way for sustainable growth and development in India.

As India progresses towards economic prosperity, empowering SMEs becomes crucial for inclusive growth. CredAble's report serves as a roadmap towards this objective, offering practical insights and actionable solutions to navigate the complexities of working capital management.

(KNN Bureau)


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